This report contains findings from the Nigeria Labour Force Survey (NLFS) for the second quarter of 2023 (Q2 2023). This is the third quarter of results since the National Bureau of Statistics (NBS) revised and improved its methodology for collecting labour market statistics in Nigeria; the new methodology is now aligned with internationally agreed standards and guidelines.
Labour market statistics are among the most important economic indicators and this makes the regular conduct of NLFS crucial. The NLFS is designed to gather key labour market statistics to support government policies and programmes for more effective planning. The survey provides up-to-date information on the dynamics of the labour market in the country. Moreover, reliable labour market data can provide valuable insights about the economy for businesses and investors and can help in the design of sound economic policies to address the challenge of creating productive jobs and eliminating poverty. This can ultimately enhance the overall stability of the economy.
Labour is one of the most important factors of production and is a major determinant of the economic system globally. That is why it is imperative to know whether people are working or not, how long they work, and the nature of the jobs they are engaged in. The NLFS enables key labour market statistics and the employment situation to be monitored periodically in Nigeria. The indicators include the labour force participation rate, employment-to-population ratio, and unemployment rate, as well as time-related underemployment, self-employment, labour underutilisation, and several other key job characteristics. The NLFS aims to provide insight into the Nigerian economy, Indicators for policy formulation and a base for international comparison.
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The results presented here are based on the resolutions concerning statistics of work, employment, and underutilisation from the 19th International Conference of Labour Statisticians (ICLS 2013).
Key Highlights
- The labour force participation rate among the working-age population remained high at 80.4% in Q2 2023.
- The employment-to-population ratio was 77.1% in Q2 2023.
- The combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) was 15.5% in Q2 2023.
- Most workers (around 88.0%) were in self-employment in Q2 2023.
- The proportion of workers in Wage Employment in Q2 2023 was 12%.
- The unemployment rate in Q2 2023 was 4.2%, this is an increase of 0.1% from the figure recorded in Q1 2023 (4.1%).
- The rate of unemployment among persons with post-secondary education was 8% in Q2 2023.
- The Unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2% having been at 6.9% in Q1 2023.
- The Unemployment rate in urban areas was 5.9% in Q2 2023, an increase from 5.4% in Q1 2023.
- Time-related underemployment in Q2 2023 was 11.8%.
- 8% of the working-age population were in subsistence agriculture.
- Informal employment rate in Q2 2023 was 92.7%.
- Percentage of youth Not in Employment, Education nor Training (NEET Rate) was 13.8%.
